Aloha Airlines CEO's letter to employees
David Banmiller, Aloha Airlines' president and chief executive officer, sent the following letter to Aloha employees today:
March 30, 2008
Dear Fellow Employees:
It is with a heavy heart that, in spite of everyone's gallant efforts, time has run out. Because of our fiduciary responsibility to creditors and the traveling public, we have no choice but to announce today the shutdown of our passenger business. Effective immediately, we will no longer sell tickets for travel beyond Monday, March 31, 2008.
Although we worked non-stop in search of a qualified buyer, no entity stepped forward due to the escalating fuel costs and the ongoing fare war. The toxic combination made investment in our passenger business too risky. And over the past week, news stories speculating about our demise made it more and more difficult for us to keep our passenger business going.
In an effort to protect thousands of our passengers holding reservations for Spring Break travel, we've decided to maintain our schedule through March 31, 2008. On that last day we will not operate the entire schedule. We've cancelled the eastbound transpac and short-haul flights on the mainland. Rest assured we have secured transportation for all crewmembers on duty to get them home.
We know we can depend on you to hold your head high right up to the end.
From the time I arrived until today, everyone has worked hard to carry on this Company's proud tradition and keep the spirit of aloha alive. There are no words to convey our gratitude to you and your families for your sacrifices and everything you have done for the Company. Thanks to you, we have earned the respect of loyal customers, and the support of the shareholders who have stood by us in tough times. What is most anguishing is that despite everyone's heroic effort, forces beyond our control forced us to shut down our passenger operation.
We will continue to work with the U.S. Bankruptcy Court to seek bidders so that we can continue to keep the air cargo and contract services businesses going and preserve as many jobs as possible.
David A. Banmiller